Bookkeeping

Bookkeeping is more than just posting transactions.  It is also understanding the accounting process, your accounting software system, your business and its environment.

What We Do

Monthly or quarterly bookkeeping.  Service includes:

  • Reconciliation of bank accounts, credit card accounts and loan accounts.
  • Reconciliation of accounts payable and accounts receivable subsidiary ledgers to general ledger.
  • Reconciliation of payroll.
  • Review of transaction postings for accuracy.
  • Generating financial statements (balance sheet and income statement).
  • Posting of depreciation and amortization.
  • Posting all journal entries needed to correct, record or reflect substance of transactions.
  • Analytical overview to see if end results make sense.
  • Recommendations for improvements and discussion of concerns, if applicable.
  • A cash flow projection so that you know when and how your cash needs will occur.

 

Bookkeeping Catchup

  • Haven’t done your books in a while, or ever? We will provide the services outlined above to get your books current.

 

Bookkeeping Cleanup

 

  • If your transactions are already entered into your accounting system but are substantially incorrect, we will:
    • Correct transaction postings.
    • Correct and/or prepare reconciliations of bank accounts, credit card accounts and loan accounts.
    • Clean up and reconcile accounts receivable and accounts payable schedules.
    • Set up and/or correct fixed asset schedules.
    • Reconcile payroll.
    • Post all journal entries needed to correct, record or reflect substance of transactions.

 

Why should you outsource your bookkeeping needs? What are the benefits to you?

  • Cost effectiveness. Outsourcing allows you to pay only for the time needed to maintain your books.  You receive professional support at a fraction of the cost of hiring in-house accounting staff.
  • Knowledge and experience. A licensed, experienced CPA will maintain your books.
  • Informed financial decisions. Up-to-date financial statements provide you with an accurate, timely picture of your financial position allowing you to make informed management decisions for your business throughout the year.
  • Timely year-end financial information. Your books will be updated and adjusted in a timely manner after year end, allowing your tax returns to be filed earlier rather than later.
  • No more surprises at tax time. Accurate, timely financials allow for tax planning throughout the year.
  • Improved cash flow management. As a bonus, we provide cash flow projections as part of our bookkeeping service.

 

How it works

How it works depends on whether you post your transactions or whether we post your transactions.

 

  • If you post your own transactions and use an online accounting package (such as QuickBooks, Xero or Wave, etc.):
    • You provide us with online access to your accounting software.
    • We perform the monthly or quarterly functions listed above.
  • If you post your own transactions and use desktop accounting software (QuickBooks, Quicken, etc.):
    • You send us your file (QuickBooks, Quicken, etc.) through our secure portal.
    • We perform the monthly or quarterly functions listed above.
  • If you want us to post your transactions:
    • You scan and send to us your accounting information (invoices, bank statements, checks, loan statements, etc.) through our secure portal. We will enter your transactions. You can also give us online access to your accounts and we can pull banking and credit card information (checks, deposits, charges, statements) directly.
    • We perform the monthly or quarterly functions listed above.

Call today to schedule an appointment!